If an Industry's Long-Run Per-Unit Costs Are Constant as Its

question 44

Multiple Choice

If an industry's long-run per-unit costs are constant as its output increases then

• A) the firm's long-run economic profits must be greater than zero.
• B) the firm is most likely a decreasing-cost industry.
• C) the firm is most likely an increasing-cost industry.
• D) the firm is most likely a constant-cost industry.

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Definitions:

Price Appreciation

The increase in the value of an asset or investment over time.

Student-Teacher Ratio

A measure used to describe the number of students for every teacher in a school or educational institution, indicating class size.

Teaching Positions

Job opportunities or vacancies for educators in schools, colleges, or universities.

Preferred Shareholders

Investors who hold preferred shares in a company, giving them priority over common shareholders in dividend payments and assets during liquidation.